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Chambersburg Area SD warns missing state budget threatens cash flow; may need short-term borrowing
Summary
Superintendent and treasurer told the school board that delayed state budget talks have reduced interest income and could force the district to borrow if the impasse continues; public commenter asked the district to quantify lost interest on $74.5 million in state revenue.
The Chambersburg Area School District warned the board on Tuesday that a still-unpassed state budget has cut interest income and strained district cash reserves, and leaders said they may need to borrow if the stalemate continues.
The district’s superintendent delivered the update at the start of the meeting and introduced a treasurer’s report outlining the magnitude of the shortfall. The treasurer said, “we are down 20,000,000, almost $20,000,000 in the bank,” and flagged…
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